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FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares are trading higher due to a retail-fueled rally in heavily-shorted stocks. The stock saw an 8000% increase last week but faces financial challenges, including a delisting notice from Nasdaq. The company will discuss its Q4 and full-year 2023 results on May 28.

Portfolio Pulse from Erica Kollmann

May 20, 2024 | 3:04 pm

SPY

Fed Vice Chair Jefferson expressed optimism about the resilience of the job market, which provides the Federal Reserve with the flexibility to continue focusing on lowering inflation while maintaining a strong economy.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 3:02 pm

LYV

The House has approved the TICKET Act, which mandates upfront disclosure of ticket prices and guarantees refunds for cancellations. This legislation, spurred by the Ticketmaster controversy during Taylor Swift's Eras Tour, now awaits Senate approval and the president's signature. The Act aims to eliminate hidden fees and deceptive ticketing practices, with significant implications for Live Nation Entertainment Inc (NYSE:LYV), Ticketmaster's parent company.

Portfolio Pulse from Franca Quarneti

May 20, 2024 | 3:01 pm

SPY

Fed Vice Chair Jefferson stated that it is appropriate to return to a more normal balance sheet, noting that banking system reserves are still abundant. He mentioned that no one knows the exact size the balance sheet will need to be, and a gradual approach will allow the Fed to shrink holdings with low risk of stress.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:59 pm

SPY

Fed Vice Chair Jefferson emphasized the importance of not focusing on a single data point, stating that it's too early to determine if April's CPI marks a new trend, though it is a positive sign. He noted the labor market's resilience and its movement towards better balance, suggesting that job growth can continue alongside disinflation. Jefferson aims for Fed policy to meet both sides of the Fed's mandate.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:57 pm

MU

Micron Technology (NASDAQ:MU) has seen a significant rise in its stock price, up 97% over the past year and 58% year-to-date. The stock is trading above key moving averages, indicating a bullish trend. Analysts have raised their price targets, and the CHIPS Act incentives are expected to further benefit the company.

Portfolio Pulse from Surbhi Jain

May 20, 2024 | 2:53 pm

ISRA

The International Criminal Court (ICC) prosecutor has requested arrest warrants for Israeli leaders, including Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant, on charges of war crimes. The charges relate to actions in Gaza, including starvation and attacks on civilians. Arrest warrants are also sought for Hamas leaders. The VanEck Israel ETF (NYSE:ISRA) remained unchanged on Monday after a slight drop on Friday.

Portfolio Pulse from Piero Cingari

May 20, 2024 | 2:38 pm

SPY

Fed Vice Chair Jefferson stated that the significant rise in market rents during the pandemic could keep housing services inflation elevated for some time.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:32 pm

SPY

Fed Vice Chair Jefferson announced that core PCE prices rose at an annual rate of 4.1% in the first four months of 2024, with a 12-month change at 2.75%. He also noted that restrictive monetary policy has impacted the housing market, and market rents take a long time to reflect in PCE housing services prices.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:32 pm

SPY

Fed Vice Chair Jefferson stated that the policy rate is currently in restrictive territory. He noted improvements in the labor market and a decline in inflation, although not as quickly as desired. The Fed will continue to assess incoming data and the evolving outlook to set the appropriate policy rate.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:30 pm